Global Health (Medanta) IPO GMP Subscription Status Today: The initial public offering (IPO) of Global Health, which operates hospitals under the Medanta brand, was subscribed 9.58 times on the final day, according to the data available on the BSE.
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The Rs 2,206 crore offer received bids for over 44.79 crore (44,79,85,032) shares against the issue size of over 4.67 crore (4,67,42,397) shares, the data showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 28.64 times, while the portion for non institutional investors was subscribed 4.02 times and that of retail individual investors (RIIs) was subscribed around 88 per cent or 0.88 times, the data showed.
The Medanta IPO comprises of a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale (OFS) of up to 50,761,000 equity shares. Anant Investments (an affiliate of Carlyle Group) and Sunil Sachdeva (jointly with Suman Sachdeva) will be offloading shares through the OFS.
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The net proceeds from the issue will be utilised for repayment/prepayment of borrowings of its subsidiaries – GHPPL and MHPL and for general corporate purposes.
The 3-day IPO opened for subscription on Thursday, November 3, 2022, and concluded at 5 pm today. It has a price band of Rs 319-336 per share.
A day before the IPO, Global Health raised nearly Rs 662 crore (Rs 6,61,67,08,224) from 52 anchor investors.
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Founded in August 2004 by renowned cardiovascular and cardiothoracic surgeon Dr Naresh Trehan, Global Health is the largest private multi-speciality tertiary care providers in the North and East regions of India in terms of bed capacity.
Global Health is backed by private equity investment firms such as Carlyle Group and Temasek. The company operates a network of five hospitals under ‘Medanta’ brand name in Gurugram, Indore, Ranchi, Lucknow and Patna. Additionally, one hospital is under construction in Noida.
Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for Global Health is expected on Friday, November 11, 2022, as per the information provided in the red herring prospectus (RHP).
